XRP (XRP) Price Prediction: Will the Altcoin Consolidate or Record a Bullish Reversal?
The cryptocurrency market started the 3rd week of October on a positive note by recording a positive inflow for the 3rd consecutive day. Following this, top tokens have regained a significant uptrend in their respective valuations.
Cryptocurrency markets began the third week of October on a positive note, recording a third consecutive day of positive inflows. Top tokens have regained a significant uptrend in their respective valuations.
XRP coin price, on the other hand, is nearing a breakout from its key resistance zone, centered around the $0.560 mark. Will Ripple price record a bullish reversal and conclude “Uptober” on a positive note, or will this altcoin face consolidation?
Ripple Price Poised For A Breakout Rally?
XRP price notably shows a minor change of less than 1% over the last 24 hours. However, the coin has recorded a 2.89% gain in the last seven days. Additionally, it trades at $0.53 with a trading volume of $1.198 billion. The market capitalization of XRP stands at $30.609 billion.
The EMA 50/200-day has recorded a significant downtrend over the last few days. Moreover, the technical indicator acts as a resistance to the price chart and is about to record a Death Cross, indicating weak buying pressure for the altcoin in the market.
In a 1D time frame, the Relative Strength Index (RSI) has failed to cross the neutral point, leading to a sharp drop in its value. It further indicates a high possibility of a bearish crossover, suggesting a bearish outlook in the upcoming time.
Will Ripple Continue To Flow?
If XRP price manages to break out of the resistance zone at $0.560, it could set the stage for a potential rally toward the upper high of $0.630 in the coming weeks.
Conversely, a rejection could lead to a pullback in the price, driving it toward its key support trendline at $0.4880 this month.
Curious about the price sentiments for this crypto token? Check out our Ripple (XRP) Price Prediction to clear all your doubts!
The above is the detailed content of XRP (XRP) Price Prediction: Will the Altcoin Consolidate or Record a Bullish Reversal?. For more information, please follow other related articles on the PHP Chinese website!

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